Orchard is a highly profitable, well established, fully regulated UK specialist lender in attractive niche markets offering substantial growth opportunities. Credit quality is excellent as evidenced by its 5 year zero loss rate. Funded through bank and institutional facilities the business has delivered a double digit return on equity. The July IPO was successful along with a £10m equity raise to support faster growth. On FY17 estimates discounted back we set a 1 year forward 148p price
